003 · Benchmarks
LA County ERS.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Global Equity | Public Equity | — | — | MSCI ACWI IMI Net |
| Private Equity | Private Equity | — | — | MSCI ACWI IMI + 2% (3-Month lagged)MSCI ACWI IMI + 200 bps (3-Month lagged) |
| Non-Core Private Real Estate | Real Estate | — | — | NCREIF ODCE + 2.25% (3-Month lagged)NFI ODCE + 225 bps (3-Month lagged) |
| Credit | Fixed Income | — | — | Custom Blend: 70% Credit Suisse Leveraged Loans; 30% Bloomberg US Corporate High Yield + 1%Custom Blend: 70% Credit Suisse Leveraged Loans; 30% Bloomberg US Corporate High Yield + 100 bps (1 Month lagged) |
| Core Real Estate | Real Estate | — | — | NCREIF ODCE (3-Month lagged)NFI ODCE (3-Month lagged) |
| Natural Resources | Real Assets / Infrastructure | — | — | 65% S&P Global Natural Resources (3-Month lagged); 35% NCREIF Farmland65% S&P Global Natural Resources TR (3-Month lagged); 35% NCREIF Farmland |
| Infrastructure | Real Assets / Infrastructure | — | — | Dow Jones Brookfield Global Composite Infrastructure (3-Month Lagged)Dow Jones Brookfield Global Composite Infrastructure TR (3-Month Lagged) |
| TIPS | Fixed Income | — | — | Bloomberg US TIPS (0-5 yrs) |
| Investment Grade Bonds | Fixed Income | — | — | Bloomberg Barc US AggregateBBg Barc U S Aggregate TR |
| Diversified Hedge Funds | Hedge Funds / Absolute Return | — | — | FTSE 3-Month US T-Bill + 2% (1-Month lagged)FTSE 3-Month US Treasury Bill + 200 bps (1-Month lagged) |
| Long-term Government Bonds | Fixed Income | — | — | Bloomberg Barc US Long Treasury BondBBg Barc U S Long Treasury Bond |
| Cash | Cash | — | — | FTSE 3-Month US T-BillFTSE 3-Month U S Treasury Bill |